Petropavlovsk PLC's agreement to sell its assets to an affiliate of Ural Mining & Metallurgical Co. topped the metals and mining transactions for the week ended Aug. 5.

The Russia-focused gold miner and its administrators from Opus Group LLP secured court approval to sell its principal assets to UMMC-Invest for $619 million. The proceeds will be enough for the company to pay its creditors but without any return for shareholders.

Petropavlovsk entered administration in July due to financial difficulties linked to sanctions against privately held Russian bank Gazprombank JSC, which is the company's main lender and sole buyer of its gold.

Rio Tinto Group completed the $525 million sale of a sliding-scale gross royalty on part of the Cortez gold mine and the Fourmile gold project in Nevada to Royal Gold Inc. subsidiary RG Royalties LLC. The Cortez mine is owned by the Nevada Gold Mines LLC joint venture between Barrick Gold Corp. and Newmont Corp., and the Fourmile project is fully owned by Barrick.

In China, Yunnan Tin Co. Ltd. won a bid to acquire an 8.37% stake in Yunnan Hualian Zinc and Indium Co. Ltd. for $144.9 million.

Huaneng Trust Yuanhe No. 6 Collection Fund Trust Plan, which is managed by Huaneng Guicheng Trust Corp. Ltd., will pay $55.3 million to acquire a 5.0% stake in Guizhou Aviation Technical Development Co. Ltd., a manufacturer of ring forgings used in aviation, high-speed rail and other applications.

Rounding out the top five transactions of the week, EV Technology Group Ltd. reached a deal to acquire a 76% stake in Fablink Group Holdings Ltd., a manufacturer of metal pressings, for $36.9 million.

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